Self-assessment and employers
Article Abstract:
The Inland Revenue's planned adoption of an income tax self-assessment system is expected to have an immense impact on taxpayers and employers alike. The shift to self-assessment is predicted to create additional burdens for companies, partnerships and other employers. Aside from the extra costs that will be generated by the application of the new regime to both employees and self-employed individuals, self-assessment will impose additional responsibilities on employers. They will be required to provide an additional copy of the P45, to set a time limit for giving employees their P60s and to provide workers their copy of P11D. In addition, these employers face new penalties for not complying with requirements, such as a 300 pounds sterling fine per form.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1995
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Crunch time for foreign profits
Article Abstract:
The U.K. Government's proposed changes to the way in which foreign profits are taxed have the potential to radically reform the tax system for multinationals and it is important that businesses and advisers are involved in the discussion process.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2007
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